The missing Rs 500 note: Banks will start handing out the new currency from next week, says SBI chief

The highly awaited Rs 500 note is yet to become a common sight. Though a few notes have surfaced, they have made news more from defective printing than from their abundance....

The highly awaited Rs 500 note is yet to become a common sight.

Though a few notes have surfaced, they have made news more from defective printing than from their abundance.

Arundhati Bhattacharya, chairman of the State Bank of India, says Rs 500 notes have started coming to the bank branches.

“Hopefully, by next week we will have enough Rs 500 to start giving them out at the bank counters,” she was quoted by The Indian Express saying.

She also informed that ATMs are getting stocked with the new Rs 500 notes.

The government had begun to print Rs 2,000 notes ahead of demonetisation. But the work on printing Rs 500 may have started only after the announcement.

The Quint had quoted a former RBI deputy governor saying it would have taken 10 months to print the required number of Rs 500 notes at Nashik and Dewas.

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